How to remain a float during times of transition

How to forge on during transition as entrepreneurs.

When in the process of building a formidable business, entrepreneurs are faced with many challenges. They have the hard task of making hard decisions that could make or break their enterprise. This is even hard when one is facing change. Change they say is the only permanent thing. As times go on we change the way we do things. Landlines were phased out by the mobile phone, technology as it were eats itself.

To keep a float, then one needs to know when to be a cannibal or risk being swallowed alive. One needs to know which direction their industry is headed to be able to pick that unique niche and run with it.

Below are a few pointers that will help you when change comes your way..

1. Envisage the future

The art of prediction is a tricky one, one that we have for a very longtime abrogated. We let fate decide for us what we face each day. It doesn’t have to be so. We can predict the future with some measure of accuracy if we put our resources to it. A business that wants to stay relevant must perfect this art, to its very best. Your product should out live the limits of today. You should have an eye of what the next generation will consider hip. Making products that transcend generational needs is the real trick. In a layman’s terms make products that solve the needs of tomorrow rather than those of today.

 2. Learn about new trends in your field

They say knowledge is power and power for sure it is if it’s used in the right way.  Industry dynamics change overnight, staying afloat means knowing when the change happens or being the one driving the change. Technology can help you aggregate news about your industry. This will give you all you need to know in a snap shot. A successful entrepreneur should know what the competitor is thinking about before they put it out there.

3. Expand your network

Interact with as many peers as possible to understand what others are doing. Networking opens doors to new ideas and ways of doing things that would otherwise take decades to learn on your own. It’s simple, networking helps you to avoid reinventing the wheel.

4. Believe in your product

Resistance will always be there in life, the energy to push through it is what sets us apart. People will discourage you, they will look down upon you but you are the only one that decides what you think of your effort. Take heart and don’t look back until you achieve your dream. Don’t allow anything to slow you down.

5. Ask for feed back

Your customers are your best researchers or PR specialist. If you can tap into their insight and how they think about your product then you will be much better off. Engage customers to know what improvements to make and know what to avoid. Ask customers about the competition and how they compare you with them.